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Ganbold, 32, lives with his wife and son in a ger (a Mongolian yurt) in Ulaanbaatar, Mongolia. His son is 14 years old and a secondary school student. Ganbold started selling hats at a local marketplace in 2003. His wife helps with his business. He is a hard-working and humble men. He currently rents two counters to sell hats. His business is running successfully. His business profit is approximately 750,000 MNT per month. In the winter, many Mongolian households burn coal to warm their houses. Coal usage has been one of the biggest causes for air pollution. Ganbold is building his new house to be warmed by electricity. He is asking for a loan to buy some necessary building materials to finish his house. The amount he is requesting is 3,500,000 MNT to buy the necessary materials to finish building his house, which is warmed by electricity.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,318.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Ganbold to buy the necessary materials to finish building his house, which is warmed by electricity.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 13, 2012
Jun 18, 2012
Currency Exchange Loss:
Apr 16, 2014